Interest Rates

BRIEFCASE

April 23, 1993

HOME MORTGAGE interest rates have fallen to 7.38 percent for a 30-year fixed-rate loan, the lowest level since Aug. 4, 1972, the Federal Home Loan Mortgage Corp., also known as Freddie Mac, said Thursday. This time last year, the national average rate for a 30-year, fixed-rate loan was 8.85 percent. That has lowered the monthly payment on a $125,000 mortgage by about $100. Freddie Mac is a major secondary market buyer of home mortgages.